The bellwether company of the Indian IT landscape, Tata Consultancy Services TCS) displayed an annual performance that has been nothing less than Innovating for Greater Futures’ as the company highlighted in its address to the industry. This theme resonates with its accelerated innovation in the enterprise segment as the organization pivots with a shift from improvising to cope with the challenges of the pandemic) to growth and transformation.
The success, as observed in these areas, has more to do with an increased degree of cloud adoption as clients embarked on multi-horizon cloud transformation journeys) and with a surge in outsourcing-led deals. The revenue growth for FY 22 was to the tune of 16.8% while EBITDA growth was around 17.1% compared to its previous year revenue growth performance of 4.6% and EBITDA growth of 7.6% respectively. The TCS leadership had stated that though the geopolitical tensions in Europe and their impact on global economic growth were some real threats, enterprise spending on technology was far more resilient. While the evolving market dynamics had an impact and have reprioritised programs, the technology spending numbers continued to grow and led to sustained momentum for the company during the fiscal year.
Most notably, TCS is seeing three distinct trends in operations’ transformation opportunities:
1) Clients are looking to leverage next-generation technologies to create a leaner, agile, resilient and efficient operation. They also intend to plough back the savings into business transformation initiatives.
This story is from the December 2022 edition of DataQuest.
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This story is from the December 2022 edition of DataQuest.
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